LEADER POST for Monday (17/12/12)
1. Supports are at about 5860,
5851, 5837, 5823, 5814 and 5800 while resistances are at about 5884/89. Other
levels to watch are 5925 and 5965. A likely +WW gives about 5922 (+WWs with
higher targets are not mentioned as of now). Two -WWs give about 5874 and 5813
(imperfect) (other -WWs with lower targets are not mentioned presently). A
bullish flag can give 5904 unless killed below 5857.
Nifty went up but again closed below 5888
and hence lower levels are likely as there is a -ve div on weekly chart. Nifty
must close above 5965 on weekly basis to become bullish again. If nifty closes
below 5827, it may be worrisome. Nifty may be very choppy for a few more days.
Hence trade with strict SLs.
2. PCR up at
1.07 and VIX down at 14.23. Pre-open high/low at
5879.60/5751.45 and close at 5860.50. This may indicate a flat to +ve nifty
after a small gap down open.
3. AS PER
9.30 STRATEGY, SELL ABOVE 5882NF, TARGET 5858, SL 5912.
4. Target of
first -ww met in open itself.
5. Nifty
opened down with a small gap, made a lower high and higher low than those on
Friday before closing almost flat but below Friday's close. The target of first
-ww of the first post was met but that of the 9.30 strategy trade was not met,
as total range was only about 28. The daily candle is an inside bar as well as
an inverted hammer.
The intraday chart of nifty spot values with 5 min candles is shown below.
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